"Third party insurance" What does it exactly cover?
Oct 15, 2018, 3:58 am
#1
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"Third party insurance" What does it exactly cover?
I see that the basic rental rate shows "Third party insurance" included. What exactly does it cover? The more information section shows this:
So does this cover my vehicle? Liability if accident with someone else? Medical? The information provided seems quite vague.
The protection for the vehicle rented includes a third party insurance with the sum insured for personal injury and damage amounting to a maximum of EUR 100 million, the maximum limit of indemnity for each injured person amounts to EUR 8 million and is limited to Europe.
Excluded from the insurance is the use of the vehicle for the transport of dangerous goods. All protection as part of the rental contract will become void, in particular, if an unauthorized driver has used the vehicle or if the driver of the vehicle does not possess the required driver's license at the time of the event giving rise to claim.
Excluded from the insurance is the use of the vehicle for the transport of dangerous goods. All protection as part of the rental contract will become void, in particular, if an unauthorized driver has used the vehicle or if the driver of the vehicle does not possess the required driver's license at the time of the event giving rise to claim.
Oct 19, 2018, 1:37 pm
#2
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From Investopedia:
Third-party insurance is essentially a form of liability insurance purchased by an insured (first party) from an insurer (second party) for protection against the claims of another (third party).
Oct 21, 2018, 3:26 am
#3
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From Investopedia:
Oct 21, 2018, 10:25 am
#4
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It means that the car rental rate includes liability insurance in the amount of €100,000,000 not to exceed €8,000,000 per individual claimant.
Oct 21, 2018, 11:02 am
#5
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Third-party liability insurance covers you if you kill or injure a third party, or cause damage to a third party's property. Certain conduct on the renter's part -- as set forth in the rental-car contract -- can void the coverage.